Fox entertainment president Peter Liguori called "Action News" "a triple threat." "We have a good script, two terrific, proven writers and two leads with proven, outstanding comedy chops," he said.

"Action News," which is targeted for fall, is the first project to come out of the rich three-year deal "Just Shoot Me!" creator Levitan and "Frasier" showrunner Lloyd inked with 20th TV in July.

"Bringing Kelsey Grammer and Patricia Heaton back to television together is a remarkable opportunity," 20th TV president Gary Newman said. "It also makes us feel very good about making the deal with Steve Levitan and Christopher Lloyd, who have done so much great television over the years. Having the show in the hands of two incredibly talented smart showrunners and with the likes of Kelsey Grammer and Patricia Heaton, we're in as good a shape as we can be to be successful."

Grammer earned four Emmys for his work on "Frasier," on which Lloyd served as a showrunner for most of the hit comedy's 1993-2004 run on NBC. Grammer also co-starred in the summer blockbuster "X-Men: The Last Stand."

Grammer's company, Grammnet Prods., has three series on the air: "Medium" on NBC and "Girlfriends" and "The Game" on CW. He is repped by CAA and attorney Paul Mayerson.

Heaton, who earned two Emmys for her role as harried wife and mother Debra Barone on CBS' hit comedy "Everybody Loves Raymond," stars opposite Tony Shalhoub in an off-Broadway run of "The Scene." "Amazing Grace," a Walden Media feature she produced, opens Feb. 23.

Heaton is repped by CAA and attorney Bill Skrzyniarz.

Levitan more recently executive produced the Fox/20th Century Fox TV comedies "Stacked," "Oliver Beene" and "Greg the Bunny." He is repped by UTA.

Lloyd's credits range from NBC's "Wings" to last season's CBS comedy "Out of Practice." He is repped by ICM.